AimPoint Pension
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Regional Vice President of Sales The Retirement Plan Company
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Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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Compass
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Loan & Distribution Specialist AimPoint Pension
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Bates & Company, Inc.
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Funds in Inherited IRA Were Exempt from Debtor's Bankruptcy Estate
Wolters Kluwer Law & Business / CCH July 12, 2012
"Proceeds from a deceased person's annuity account that were transferred to a debtor's inherited individual retirement account (IRA) prior to bankruptcy were exempted from the debtor's bankruptcy estate under Bankruptcy Code Sec. 522(d)(12), according to a U.S. Bankruptcy Court. The rolled over amount was exempt from taxation under Code Sec. 408(e), and the funds did not cease to qualify for exemption because of a direct transfer from one tax-exempt account to another tax-exempt account." [In re Holly Anne Seeling, Debtor (Bankr. No. 11-30957, D. Mass., May 24, 2012)]
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